Capital One Cards
0% Balance Transfer Not Honored and Charged 19% Interest

In January I called Capital One to ask if they had any 0% balance transfer offers that I would be eligible for. The customer service rep said yes, he said I would not see any interest until March. So I rolled over $3800 from another card that I was getting a rate of 14.5% with plans to pay it off over the course of 10-12 months, pretty standard reason for balance transfers as I see it.

Within the first 30 days I paid nearly 30% of my balance off then I got hit with about $33 in finance charges, so I call Capital One and begin the process of getting it taken care of. They told me the don't have any 0% apr balance transfer offers and I was getting the best rate available. So I had it escalated internally and they said I would be contacted to review or I could call for an update in a week or so. I never heard back so I called them, they again said they would investigate further but as they could see there were no 0% offers and there was nothing they could do. I asked for a supervisor and was transferred, the supervisor told me I could write a letter explaining my case and they would investigate further. So I wrote a letter and faxed it to the number I was provided.

Two weeks later I never heard back so I called in for an update (during which period of time I received another interest charge of $35). After speaking with 3 different reps they finally said it was investigated and even though their representative told me I was doing a balance transfer with a rate of 0% apr, they would not honor that and there was nothing they can do further. She waived the latest $35 interest charge but still, paying 19 % is ridiculous.

You can not trust the people you call at Capital One and they will make the process of learning that very very difficult. I wasted time, money, and stress for nothing. I will pay my balance and close that card for good.

Company: Capital One Cards
Country: USA
Address: 1680 Capital One Drive
Site: capitalone.com

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